China’s carbon offsets market makes cautious progress

China’s Certified Emission Reduction (CCER) programme will generate credits that can be used to offset carbon emissions in the domestic pilot compliance markets. The National Development and Reform Commission (NDRC) will guide the development of this market by controlling approval of certain projects, leading to a much lower offsets supply than potentially available, according to Thomson Reuters Point.
Given the limited time to the first compliance deadlines in mid-2014, the short-term supply will be tight. Thomson Reuters Point Carbon’s analysis forecasts that only currently-listed projects will be issued credits in time for the first surrender deadline for a total of 5 Mt CCERs………………………………………..Full Article: Source